Planned Giving Seminar

Due to a lack of RSVPs, this Planned Giving Seminar has been cancelled. Please contact Michelle Hoffman at hoffman@elyriacatholic.com or 440 230 8618 if you are interested in more information or would like to be connected to another resource.

Why Give?

Support the Mission of Elyria Catholic High School

Committed to excellence and compassion, Elyria Catholic High School is a Christian community within the Catholic tradition that calls young men and women to embrace their faith, recognize their full potential and establish a life-long relationship with Jesus Christ. Through worship, academics, extracurricular activities and service, the Elyria Catholic community educates students to use vision and courage to act as caring, just and responsible citizens of the world.

You can help keep Elyria Catholic High School steadfast in its mission and financially strong for tomorrow through a planned gift.

Leave A Legacy

Monsignor Newton’s legacy as a man of great wisdom and compassion is evidenced by the many social reforms he established through his parish and throughout Elyria. It was perhaps his vision for a Catholic high school designed to educate and inspire the Catholic teens of the Elyria District to carry on the work of Jesus Christ that continues to have the greatest impact.

Over the past 70 years, alumni, parents and friends have provided financial assistance to Elyria Catholic High School to continue the tradition and mission of providing young adults with an outstanding religious, academic and extra-curricular education.

You can become a member of the Monsignor Newton Legacy Society by including Elyria Catholic High School in your estate plans. Your membership in the society secures our school’s financial future and continues the work of Monsignor Newton. When you choose to include Elyria Catholic HIgh School in your future planning, you will leave a lasting legacy of support for our mission and inspire and encourage support from others.

Tax Benefits

In addition to supporting the mission of Elyria Catholic, a planned gift can provide you substantial tax advantages including income tax deductions, reduced capital gains taxes, reduced probate costs and reduced estate taxes.

How You Can Give

There are a variety of ways to give and we would be happy to work with you and your financial planner to fulfill your wishes and match your dreams with our plans for future Elyria Catholic students. Here are some types of gifts to consider.

Bequests

Bequests which can be written into your will are very easy to establish and can be revoked at any time. These types of gifts can include a general sum of money, a specific named asset or a residual amount left over after other bequests and expenses are paid.

Suggested language to include in your will might be “I give to Elyria Catholic High School, 725 Gulf Rd, Elyria, OH 44035, a nonprofit organization, Federal Tax Identification Number 34-0898044, (insert amount, specific asset, all or a percentage of the rest, residue and remainder of my estate).

Contingent Bequests

Bequests can also be made contingent on the person making the will not being survived by other individuals.

Suggested language to include in your will might be “If (name of primary beneficiary) do(es) not survive me or shall die within 90 days of the date of my death or as a result of a common disaster, then I give to Elyria Catholic High School, 725 Gulf Rd, Elyria, OH 44035, a nonprofit corporation, Federal Tax Identification Number 34-0898044, (insert amount, specific asset, all or a percentage of the rest, residue and remainder of my estate).

Beneficiary Designations

A beneficiary designation is one of the simplest ways to make a gift to Elyria Catholic High School. It is usually as easy as filling out a form. You can specify the individuals and charities you want to support and you can also specify the percentage of the assets you want each beneficiary to receive. Beneficiary designations can be made on retirement assets, life insurance policies, annuity contracts, bank accounts and investment accounts.

Retirement Assets A gift of retirement assets has the added advantage of being one of the most tax-wise ways to make an estate gift. This is because your retirement assets, if left to individuals, will be subject to income tax when they receive distributions. With a gift to a non-profit such Elyria Catholic High School, 100 percent of the funds are available for charitable purposes. If you want to remember us in your estate plan, it is often better to leave other types of assets like cash, securities and real estate to your heirs and give the more heavily taxed retirement asset to Elyria Catholic High School.

Life Insurance Life Insurance policies can also be used to make a gift to Elyria Catholic High School. Complete and return to the insurance company a form designating that Elyria Catholic High School receives all or a portion of the death benefit associated with your life insurance policy. You can also transfer ownership of the policy to Elyria Catholic High School. Transferring ownership results in an immediate income tax charitable deduction and potential income tax savings in the year of the gift.

Annuity Contracts A commercial annuity will sometimes have a remaining value at the end of the annuitant’s lifetime. You can name Elyria Catholic High School to receive all or part of this amount by designating it as a beneficiary (sole or partial) on the appropriate form from the insurance company.

Bank Accounts You can instruct your bank to pay Elyria Catholic High School all or a portion of what remains in a checking or savings account. Your bank can provide you with the appropriate beneficiary designation form.

Investment Accounts You can instruct your investment company to transfer to Elyria Catholic High School some or all investments held in the account at the time of your passing. Your broker or agent can let you know the process for doing this – it may be as simple as adding “T.O.D. to Elyria Catholic High School after your name on the account.

Charitable Remainder Trust

A charitable remainder trust offers a gift to Elyria Catholic without loss of income and provides a current income tax deduction for a future gift. The value of the gift is based on current market value without triggering a taxable capital gain. A charitable remainder trust offers income at a desired percentage without regard to current investment return.

Charitable Lead Trust

Assets transferred are eventually returned to the donor or, more typically, to the donor’s children. Income is paid to Elyria Catholic annually while the assets are in the trust. Such trusts can be created during your lifetime or at death, with significant savings in gift or estate taxes possible because of the “temporary” nature of the gift.

Charitable Gift Annuity

A gift annuity is a life annuity for one or two lives, issued in exchange for gift property. Elyria Cathoolic guarantees annuity payment to the annuitant(s). The charitable gift annuity offers a charitable tax deduction for the value of the remainder gift. The basis is recovered tax-free over your lifetime, and Elyria Catholic receives your capital gift when income need ends.

We are very grateful to the following Monsignor Newton Legacy Society Members

Elyria Catholic High School is grateful for any type of planned gift you may be considering. We do advise that you contact your attorney, financial planner, or tax professional for specific advice. We can also arrange assistance for you from a professional if you would like. If you have already included Elyria Catholic in your estate plans or need assistance in establishing a planned gift, please contact our Advancement Office at 440-230-8618. Any information you share will be held in strict confidence.